Curious about Sunrun net worth and its 2024 financial performance? You’re in the right place.
At Ando Money, we break down the latest updates on how operating expenses, subscriber growth, and key partnerships drive Sunrun’s success. Let’s dive in!
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Sunrun Inc. |
| Full Name | Sunrun Inc. |
| Website | sunrun.com |
| Industry | Renewable Energy |
| Traded as | Nasdaq: RUN |
| ISIN | US86771W1053 |
| Founded | 2007 |
| Founders | Lynn Jurich, Edward Fenster |
| Country/Territory | United States |
| Headquarters | San Francisco, California, U.S. |
| Chief Executive Officer | Mary Powell |
| Number of Employees | 12,000+ |
| Market Cap | $3.37 billion (October 2024) |
| Total Assets | $21.44 billion (June 2024) |
| Total Equity | $6.41 billion (June 2024) |
| Revenue | $523.9 million (Q2 2024) |
| Net Income | $139.1 million (Q2 2024) |
What is the Net Worth/Market Cap Of Sunrun in 2024?
Sunrun’s net worth, estimated at $3.37 billion as of October 2024, positions it as a significant player in the renewable energy sector.
In comparison to others in the clean energy space, Sunrun shows competitive strength. While not the biggest company in the world, Sunrun’s growing focus on storage and solar installation contributes to its impressive standing.
Looking at other influential companies in related fields helps provide context.
Competitors/Partners:
- Tesla
- NextEra Energy
- SunPower
- Enphase Energy
- First Solar
- Vivint Solar
- Sunnova
- AES Corporation
- Duke Energy
- Brookfield Renewable
Check out our detailed analysis of the top wealthiest companies in the world for more insights.
Sunrun Financial Performance Overview
Primary Sources of Revenue
Sunrun’s revenue mainly comes from solar energy systems and customer agreements. In Q2 2024, Sunrun generated $523.9 million, with $387.8 million coming from customer agreements.
Solar energy systems accounted for $136 million. While solar sales saw a decline year-over-year, the steady growth of recurring revenue from customer agreements indicates long-term stability.
Factors Affecting Financial Performance
One significant factor is Sunrun’s operating expenses, which were $428.8 million in Q2 2024.
These expenses include the cost of customer agreements and solar systems.
The decline in upfront sales revenue, attributed to an increased focus on subscription-based models, requires ongoing operating expense management to maintain profitability.
Strategic Investments and Partnerships
Sunrun has strengthened its financial base through strategic collaborations. For instance, partnering with Tesla for storage solutions has positioned Sunrun as a key player in home battery installations.
Additionally, the company’s tax equity partnerships play a vital role in expanding solar deployment while optimizing tax incentives.
Solar Installations and Storage Capacity Growth
In Q2 2024, Sunrun installed 192.3 megawatts of solar energy, contributing to a total 7.1 gigawatts of solar capacity.
On the storage side, Sunrun installed 264.5 megawatt hours, representing 152% year-over-year growth.
The company’s ability to combine solar and storage enhances its market differentiation and revenue streams.
Subscriber Growth and Its Influence on Revenue
Subscriber growth directly impacts Sunrun’s recurring revenue.
As of June 2024, Sunrun had 984,000 customers, including 828,129 subscribers, with an annual recurring revenue of $1.5 billion.
Subscriber growth not only boosts revenue but also increases the company’s ability to fund future expansion.
Financial Strategies and Cash Flow Management
Sunrun’s approach to cash flow has improved significantly.
The company achieved $217 million in cash generation in Q2 2024, with projections for positive cash flow in the upcoming quarters.
By focusing on margin-driven growth and prudent management of capital markets, Sunrun continues to strengthen its financial position.
Long-term Financial Outlook
Looking ahead, Sunrun’s guidance for 2025 projects cash generation between $350 million and $600 million.
The company plans to grow its solar and storage businesses while maintaining its leadership in the renewable energy space.
Sunrun’s focus on long-term contracts and expanding energy storage capabilities is expected to drive sustained growth.
FAQs About Sunrun
How is Sunrun’s cash flow performing?
It reported $217 million in cash generation for Q2 2024. This is a significant improvement, driven by cost control and operating efficiency.
How many subscribers does Sunrun have?
As of June 2024, Sunrun has 828,129 subscribers, with a total customer base of 984,000. Subscriber growth continues to fuel recurring revenue.
What is Sunrun’s solar energy capacity?
Its networked solar energy capacity reached 7,058 megawatts by mid-2024, with 192.3 megawatts installed in Q2 alone.
How much storage capacity has Sunrun installed?
In Q2 2024, the company installed 264.5 megawatt hours of storage, marking a 152% year-over-year increase and showing a strong attachment rate.
What are Sunrun’s main revenue sources?
The company earns revenue primarily through customer agreements ($387.8 million in Q2 2024) and solar energy system sales ($136 million).
The shift toward subscription models drives long-term recurring income.
Conclusion
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